Annuity

[Dan9902]

Hey could someone help me understand these two questions a bit more and how to get to the answer. The answer is below the questions I just don't understand how to get to it. Thanks

You purchase a car worth $32863 and make a down payment of $4886. You intend to repay the balance of the car with month end car payments of $314 for 5 years and a final “buyout” at the end of 5 years. Money can earn 4.28% compounded semi-annually.
What is value of your car loan in terms of dollars in 5 years?

= $ 34574.80

You purchase a car worth $32863 and make a down payment of $4886. You intend to repay the balance of the car with month end car payments of $314 for 5 years and a final “buyout” at the end of 5 years. Money can earn 4.28% compounded semi-annually.
What is the value of your car loan repayments in terms of dollars in 5 years?

=$ 20946.17

 

[Steven G]

It is hard to help you understand your problem if you fail to tell us what it is that you do not understand. Can you please show us your attempt at working these problems so we can see where you are going wrong?

 

[Dan9902]

I have no idea how to get that answer, I don't understand any of it and any formula I have tried to use from my textbook gets me nowhere close to the real answer.